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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tesla, Inc.    TSLA


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Tesla market value crosses $500 billion in meteoric rally

11/25/2020 | 02:52am EST
FILE PHOTO: The Tesla logo is seen at the entrance to Tesla Motors' showroom in Manhattan's Meatpacking District in New York City

(Reuters) - Tesla Inc blew past $500 billion in market value on Tuesday as investors snapped up its shares in the run-up to its debut in the S&P 500, extending a meteoric rally that has seen it surge over 500% this year.

The California electric carmaker's stock rose nearly 5%, putting its market capitalization at $519 billion.

Tesla is Wall Street's seventh most valuable company, just behind Berkshire Hathaway , and its shares have rallied over 30% since Nov. 16, when it was announced Tesla would join the S&P 500 benchmark.

Index funds that replicate the S&P 500 will have to buy more than $50 billion worth of Tesla's stock ahead of its inclusion to the index on Dec. 21. Additionally, Goldman Sachs estimated last week that actively managed mutual funds could buy another $8 billion of Tesla shares after it is added.

Tesla has become by far the world's most valuable automaker, despite production that is a fraction of Toyota Motor Corp, Volkswagen or General Motors Co.

Shares of other electric vehicle (EV) makers have also rallied in recent months as President-elect Joe Biden made boosting EVs a top priority during his campaign.

Chinese electric carmaker Nio Inc fell 4.9% on Tuesday, trimming its gain in November to 72%.

"One of the core underpinnings of the Biden platform will be around pushing clean energy and zero-emissions vehicles with hopes of accelerating the deployment of electric vehicles and public charging outlets by 2030," Wedbush analyst Daniel Ives wrote in a research note.

(Reporting by Subrat Patnaik in Bengaluru and Noel Randewich in San Francisco; Editing by Tom Brown)

By Subrat Patnaik and Noel Randewich

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BERKSHIRE HATHAWAY INC. -0.70% 350320 Delayed Quote.0.72%
DJ INDUSTRIAL -0.57% 30814.26 Delayed Quote.1.26%
GENERAL MOTORS COMPANY -3.03% 49.97 Delayed Quote.20.00%
NASDAQ 100 -0.73% 12803.932503 Delayed Quote.0.08%
NASDAQ COMP. -0.87% 12998.502287 Delayed Quote.1.87%
NIO LIMITED -7.56% 56.27 Delayed Quote.15.45%
S&P 500 -0.72% 3768.25 Delayed Quote.0.32%
TESLA, INC. -2.23% 826.16 Delayed Quote.17.07%
THE GOLDMAN SACHS GROUP, INC. -2.23% 301.01 Delayed Quote.14.14%
TOYOTA INDUSTRIES CORPORATION -2.32% 8420 End-of-day quote.2.81%
TOYOTA MOTOR CORPORATION -1.65% 7733 End-of-day quote.-2.82%
VOLKSWAGEN AG -0.07% 151.88 Delayed Quote.-0.35%
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Financials (USD)
Sales 2020 30 943 M - -
Net income 2020 1 316 M - -
Net cash 2020 5 302 M - -
P/E ratio 2020 625x
Yield 2020 -
Capitalization 783 B 783 B -
EV / Sales 2020 25,1x
EV / Sales 2021 17,1x
Nbr of Employees 48 016
Free-Float 80,0%
Duration : Period :
Tesla, Inc. Technical Analysis Chart | TSLA | US88160R1014 | MarketScreener
Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 37
Average target price 496,10 $
Last Close Price 826,16 $
Spread / Highest target 15,0%
Spread / Average Target -40,0%
Spread / Lowest Target -87,3%
EPS Revisions
Managers and Directors
Elon Reeve Musk Chief Executive Officer & Director
Robyn M. Denholm Chairman
Zachary Kirkhorn Chief Financial Officer
Kimbal Musk Director
Ira M. Ehrenpreis Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TESLA, INC.17.07%783 118
VOLKSWAGEN AG-0.35%98 675
NIO LIMITED15.45%95 118
DAIMLER AG-2.65%75 121